Russia to continue buying diamonds through state fund in 2025
The Russian budget for 2025-2027 has set aside $1.55 billion for the purchase of precious metals and gems.
The official opening of the Indian office is scheduled for March 2018. Currently, preparation works for the opening are underway there. Representative office won’t be engaged in trading activity, and will focus on cooperation with local market.
The Director of the representative office will cover ALROSA’s activity in India. His key responsibilities will include cooperating with local industry organizations and advising current clients of the company on different technical issues. He will also negotiate with potential clients and monitor the condition of Indian diamond market.
In addition, Jim will deal with issues relating to research of Indian consumption market, as well as issues of preventing synthetics from entering the Indian natural diamonds market.
Jim Vimadalal holds a degree Bachelor of Commerce from the Bombay University and a postgraduate degree in business management from the Welingkar Institute of Management.
Prior to joining ALROSA, within three years Jim was with the sales and marketing team at Rio Tinto’s Indian representative office, and before that, he headed up Swarovski’s Western India business operations.
Sergey Ivanov, Chief Executive Officer – Chairman of the Executive Committee of ALROSA:
“I’d like to welcome Jim Vimadalal to the company, and I’m confident that his wide experience in sales and marketing will contribute to strengthening our partnership with India, as well as expanding the company’s presence in the country’s diamond market. India is one of our key partners; local companies successfully cooperate with ALROSA under both long-term contracts and spot transactions. The opening of the office in Mumbai will enable us to better cooperate with industry organizations and our current clients, as well as expand our client base in the country.”
